The State government has decided to go for an upward revision of land values as well as registration charges.
The State Cabinet, which met here on Monday, has decided to adopt a scientific approach to revising land and registration values, tentatively with effect from May 26. Land values were revised by the previous BRS government four years ago, in February 2022, and there has been no revision since, though the government had indicated that a revision was imminent.
The government has accordingly decided to review the values based on the recommendations given by noted economist Arvind Subramanian, Revenue Minister Ponguleti Srinivas Reddy said. He said the decision follows the long-pending request from the land owners whose lands would be acquired for taking up projects like national highways, irrigation projects and others. The Cabinet discussed the status of the HILT (Hyderabad Industrial Land Transformation) policy and decided to ensure that the new prices would not be applicable for those who apply for conversion of their industrial lands before the deadline. The offer extended by the government, allowing them to pay 10 per cent of the conversion charge at the time of application and the balance 90 per cent in 90 days would continue to operate for such applicants.
